The price per 1 dinar is 1 shilling at 6p, which is equivalent to 13.333 rupees.
1967, the pound depreciated, and Kuwait announced that the gold content of the dinar and its parity with the US dollar remained unchanged. 1971August 15, Kuwait announced on August 23rd that the dinar was linked to the pound.
In the same year, 65438+February 18 USD depreciated, and on February 65438+February 2 1, Kuwait announced that the gold content of the dinar remained unchanged.
Following the fluctuation of the pound 1972 on June 23, on June 24, Kuwait announced that the dinar was no longer linked to the pound, but to the US dollar.
1973 February 12 USD depreciated again. 14 In February, Kuwait announced that it would keep the gold content of the dinar unchanged and appreciate against the US dollar11.11%.
March 1975, 17 dinars are no longer linked to the US dollar, but float freely in a controlled way, and are linked to a basket of currencies (including pound, Dutch guilder, French franc, Swiss franc, former German mark, Japanese yen, etc. ).
On April 9 1984, a dual exchange rate system was implemented, namely, the trade exchange rate and the financial exchange rate.
1990 When Kuwait was invaded by neighboring Iraq, its currency was briefly changed into Iraqi dinars, and at that time, a large number of Kuwaiti dinars were stolen by Iraq and sold on the international currency market.
After the war, in order to rebuild the national economy as soon as possible, Kuwait not only resumed the use of the Kuwaiti dinar, but also issued a new version (the fourth edition) of dinar banknotes as soon as possible, and declared the old version of banknotes (including the stolen part) invalid. This edition of banknotes has been used until the latest edition (the fifth edition) was issued on April 3, 1994 by/kloc-0.
Before 65438+200314 October, Kuwaiti dinars had been circulating in the international currency market at a fixed exchange rate.
On October 5th, 65438/kloc-0, the dinar officially began to trade freely in the international currency market, and the exchange rate was 3.33745 USD 1 dinar.
Take May 2007 1 as an example, its average transaction price is equivalent to USD 3.47222 per 1 Kuwaiti dinar [1], which is the highest unit price in the world.
There are two types of Kuwaiti dinars: coins and paper money, of which 1 Phil is no longer in circulation, and the largest denomination is 20 dinar paper money.
-From the encyclopedia